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FOX Business
Nov 29, 2012 11:00am EST
on avoiding the fiscal cliff, john boehner has a press conference at 11:30 after his meeting with tim geithner. connell: we will speak with -- see what the speaker has to say. with all this back and forth, a decent amount of speculation that a deal is starting to take shape. look at the reporting from politico and they put numbers to its save a framework looks like this. taxes for revenue would rise by $1.2 trillion. families making them to $50,000 would see higher taxes which we have been expecting and entitlement programs would be cut by $400 billion, most coming for medicare and, quote, end of war savings peter barnes and others reported many times as being dubious because they counted the previous budget you have another trillion plus in cuts. that according to politico is the deal, steve murphy is a former campaign manager for dick gephardt and in d.c. today. from the democratic of view anything i just say or just said sound unreasonable? >> i don't think it sounds reasonable except i don't think it is enough. i don't think either party is being realistic about the enormity of the debt an
CNBC
Nov 30, 2012 12:00pm EST
house speaker john boehner getting ready to address the fiscal cliff yet again. and yesterday as you might recall when he spoke the markets did move. stay tuned. ahead on halftime, from a luxury retailer to a dollar store we're trading the biggest movers midday and gaming the fiscal cliff. which companies are doelg out new dividends now? which are next? we'll be right back. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. which isn't rocket science. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who ge
CNBC
Nov 29, 2012 4:00pm EST
the fiscal cliff. geithner, boehner, and reid and any little nugget of information we get there continues to whip saw the market. don't expect any changes tomorrow or really next week until we get more clarity on that situation. the up shot of that is companies continue to make these special dividends, borrowing cheap in the bond market in many cases and continue to pay these dividends before the end of the year. >> all right. we'll be watching that. darren, you're up. 30 seconds on the clock. >> i'm looking at the euro. looking for the pullback to the 129.50 level. i do think we're going to hold that level and push higher. that will push risk assets higher as well. i'm looking for a consolidation of the s&p overnight. once we get through chicago purchasing managers, i think we're going to reverse to the up side. we'll end the week on a strong note. again, it will be whippy with headline to headline. i don't think we're going to get many headlines into the weekend. >> all right. thanks so much. last but not least, peter, you're up. 30 seconds on the clock. what do you want to look at? >>
CNBC
Dec 5, 2012 4:00am EST
hand on the fiscal cliff. house speaker john boehner's facing something of a revolt within gop's ranks over his budget plan. we'll have the latest from washington when we come back. >>> talks between the white house and republicans over the fiscal cliff have ran to something of a holt. john boehner dealing with division in the gop's ranks to his bung budget plan. another shanghai surprise. china's mainland market surge nearly 3%. more austerity. plus, austerity measures are hitting european consumers. retail sales in october fall much more than expected. september also revised sharply to the downside. >>> it was a flat day really for european stocks, slightly negative for u.s. stocks yesterday. we are a little bit higher. the dow is currently some 43 points above fair value. the nasdaq is around four points above fair value. the s&p 500 at the moment is around about four points above fair value. european stocks are up half a percent earlier. we have come off those highs. eurozone pmis a little bit better than expected. but still deeply in contraction territory. uk services pmis dipped
FOX Business
Dec 5, 2012 1:00pm EST
againsy on the fiscal cliff. speaker boehner is demanding a face-to-face meeting with president obama and the pentagon is preparing for the worst. >> it could take a week to clear out the backlog of ships. we're live at the port of los angeles straight ahead. tracy: time for stocks as we do every 15 minutes. nicole petallides on the floor of the new york stock exchange. it has been a wild ride. a lot of it has to do with apple, right? >> the big picture, markets are higher. apple has come under pressure. let's look at the major market averages. the dow is up triple digits, completely erasing losses over last couple days. posting a gain for the week. tech-heavy nasdaq pom cost it is moving to the because weighed down by apple. research and findings have found that apple faces intense competition in the tablet market for ipad and ipad mini and probably will lose market share to android and even microsoft systems. you're seeing apple down 28, almost 29 bucks. a terrible day if you're a shareholder hoping to get to the upside. a lot of folks hope it will get back to 700. not today. look a
PBS
Nov 30, 2012 4:30pm PST
.b.r." >> susie: the fiscal cliff talks are going nowhere. that's the word from john boehner today. the house speaker characterized the negotiations to avoid huge tax increases and spending cuts at a stalemate. the race to solve the fiscal cliff triggered another round of dramatic sound bites from republicans and president obama. darren gersh has the latest. >> reporter: the president is still pushing to wrap up a deal on the fiscal cliff before christmas and just in case anyone missed that point, he visited a toy factory to urge congress to avoid raising taxes on the middle class. >> that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. a typical middle-class family of four would see their income taxes go up by about $2,200. >> reporter: t psidents oposg to raise taxesy $1.6 trillion, while cutting spending by $400 billion. on top of that, mr. obama asked for $50 billion more for infrastructure spending and $140 billion to extend unemployment insurance benefits and the payroll tax cut. republicans literally laughed it off. >> they want... they want to have t
FOX Business
Nov 30, 2012 1:00pm EST
speaker boehner says fiscal cliff talks, well, they have gone, quote, almost nowhere. that is encouraging, isn't it? when will both sides finally make progress towards a deal? "wall street journal's" gerald seib met with senate minority leader mitch mcconnell. he will be here to tell us what he had to say. tracy: i'm excited. new study says which americans pay the most in taxes and probably not who you think or maybe it is. it raises questions who is really not paying their fair share. ashley: i think it is me by the way. if fiscal cliff wasn't bad enough, food prices will spike in the new year, you remember the drought, plus inaction in congress will cost you more at the checkout. tracy: i remember jeff flock out in those fields right? ashley: can't forget that. tracy: time for stocks as we do every 15 minutes. lauren simonetti on the floor of new york stock exchange today. we got another sign of consumer weakness, didn't we? >> tracy and ashley, consumer spending fell in october, first decline in five months that is keeping a cap on stocks. all three major averages in the red. dow turne
FOX Business
Dec 5, 2012 11:00am EST
. earlier, speaker boehner speaking about the fiscal cliff. now it is president obama. let's listen. >> we have emerged not yet where we need to be, but we certainly have made progress. the reason we have made progress in part is because of the outstanding management and productivity and gains and efficiencies that you have been able to achieve in each and every one of your companies. i have said this to some of the small groups, let me repeat it to the large groups, i am passionately rooting for your success. if the companies in this room are doing well, then, small businesses and medium size businesses up and down the chain are doing well. if companies in this room are doing well, then, folks get jobs, consumers get confidence and we will be able to compete around the world. now, the good news is, despite the extraordinary challenges we have seen over the last four years, there is progress in some key sectors of our economy. we have seen housing finally begin to bounce back for the first time. that has an enormous ripple effect throughout the economy. many of you, over the last two or th
FOX Business
Nov 29, 2012 3:00pm EST
boehner said no substantial progress on fiscal cliff debt deal while harry reid insists we democrats are on track and will finalize it this year. even chuck schumer weighed in saying progress is being made on the hill and the next is a taste oversensitive. take a look at the intraday, you can see how it was jerked around today. right around 11:30 a.m., speaker john maye -- john boehner spoke. the buyers poured in, the short time later chuck schumer came in. now we are trading near the highs of the day. the dow jones dust they stop 77 points, 45 to the upside. all 10 s. and p. sectors are jumping with technologies leading the way. research in motion a big winner. can you believe the stock is near $12 per share. rim was at $6 per share, but positive comments out of goldman sachs fueling the game. apple in the green continuing the postelection resurgence. apple was in bear market correction level just a few weeks ago, but right now jumping about 1%. disappointing november sales numbers. costs dropping 6%, tiffany got a markdown, earnings missed street estimates. and then there is aeropo
CNBC
Nov 29, 2012 1:00pm EST
after discouraging words from washington on the state of the fiscal cliff. this time it was house speaker boehner speaking with reporters after meeting with treasury secretary tim geithner. eamon javers is in washington with the latest. eamon, the sentiment down here is these guys should stop talking and start crafting a deal. >> reporter: that's the sentiment here in the hallways of capitol hill as well, sue. i can tell you that. we are starting to get a little more clarity on what's going on here today. i just had the chance just a few moments ago to button-hole senator harry reid here in the hallway, asking him a very specific question. i said did treasury secretary tim geithner come up here with a new specific offer for republicans? is that what he laid down on the table for speaker john boehner today? reid told me -- no, there was no specific offer here today from geithner to the republican side. he said that the president of the united states made the democrats' over two weeks ago and there's been no new specific offer since then. i think that explains a little bit of why we
PBS
Nov 29, 2012 4:30pm PST
boehner expressed disappointment over the pace of fiscal cliff negotiations. the index shrugged it off, ending higher by four tenths of a percent. volume was 677 million shares on the big board; under 1.8 billion moved on the nasdaq. all ten of the major stock sectors rose. the telecommunications sector had the strongest gain, up nine tenths of a percent. the health care, materials and utilities sectors were each higher by six tenths of a percent. health insurance giant united healthcare led its sector and the dow industrial stock average. trading volume almost doubled with the stock up 3%. on monday, the company's profit prediction for next year was less than anticipated. but with today's rally, shares have recovered from that sell- off and then some. retail continues to be in focus. the calendar month may not be over, but for several stores, the sales month for november is in the books. 17 chains reported sales at stores open for at least year. overall, sales were up 1.6%, according to thomson-reuters. that's only half the growth expected. the impact of hurricane sandy on the east co
CNBC
Nov 30, 2012 1:00pm EST
the fiscal cliff. specifically, what areas would you be willing to compromise on in terms of spending or in terms of the tax proposals that are out there to try and get this thing solved? >> well, first of all, in terms of speaker boehner's comments, i think we have to recognize there is a certain choreography that goes on in a negotiation, as might be expected. after the leak the leadership got together and said the right things. then there's going to be a distancing as the difficult terms are negotiated until we come together again. i'm kf didnconfident we will an avoid the fiscal cliff. i recognize we'll have to give, as well as the other side, but i do completely agree with the president that the election was about something and one of the center front issues was whether those that have done well in the last decade should be called upon to do a little more in terms of helping to pay down our deficit and debt. i think the electorate answers that question so that's got to play a role in the negotiation and has. but i think we'll get to yes. >> how are you going to do it though? you
CNBC
Nov 30, 2012 4:00pm EST
on wall street. stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> republicans know where we stand. we've said it, we've said it, we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmas time. >> according to congressional republican aides, they say they have obtained a copy of the white house's proffer here. at least $50 billion in new spending. >> do you have faith in any of them to rise above? >> would it be okay to go over? >> we will rise above. >> morgan stanley wealth management's chief investment strategist up next with his list of winners and losers. plus, how you can make money in these shaky markets as the year winds down. >>> later, as lawsuits pile up and hewlett-packard stock suffers, carly fiorina will join me for her first interview since the autonomy disaster came to light. wait until you hear who she says deserves the blame. >>> also, social security an
FOX Business
Dec 5, 2012 9:20am EST
much indeed. >> the so the president has made it very, very clear, drawn a line, no fiscal cliff deal without higher tax rates for the highest earningers, tax rates have got to go up. question, what will speaker boehner have to say about that? his reaction will be new at ten this morning. mark stein is going to be here as well and he'll join us to explore that and more. we have an oil and mining deal to tell, but. freeport mcmoran and copper and gold will have exploration and two separate deals for 9 billion in cash and stock. i'm not quite sure what all of that means. just tell me the stock price, nicole. >> it means big moves for these two stocks here. freeport mcmoran is now down over 15%, but when you look at plains exploration and production, a big mover to the upside and that's up 23. stuart: i'm trying to get this. freeport mcmoran, they're the ones that are doing the buying and plains exploration are the people who are being bought. so the people who are being bought go up because they're paying a high price and the people who are paying the money out are going down. have i go
FOX Business
Nov 30, 2012 3:00pm EST
some type of newsbreak about the fiscal cliff over the weekend. buyers have been kept pretty much on the sidelines. house speaker john boehner talking yet again today about the lack of progress in talks with the president. this is a quote "there is almost no progress, but he is willing to move forward in good faith." consumer discretionary stocks have been the week links today. things like yum brands have been down on things like heavy volume. sale estimates missed. hy retail out of fashion once again. coach and tiffany in the red. they missed their earnings numbers. market does not like surprises. let's take a look at metal. gold down about $17. even as the dollar falls against the euro. perhaps, you can blame it on the fiscal cliff. you can mention that silver is down more tightly. lots of things going on in the markets. coming up just a little bbt later in the show, you have to see this. talk about optimism. michael milken. remember him in the 90s? he was a real rock star when it came to backing small entrepreneurial ideas and companies and then became huge. now, he is all abou
FOX Business
Nov 29, 2012 4:00pm EST
saying he has seen no substantive progress on the fiscal cliff talks in the last couple weeks. what compromises need to be made? sheila bair, being a former fdic chair, telling us 4 ways wall street can help out and it is not all good news for investors. liz: did you see the cover of the wall street journal? fed stimulus like gillian 2013. we talked about this the second broke yesterday halfway through the 3:00 p.m. show. the man who wrote the article, wall street journal's chief economic correspondent and chief head head to lend us live. dave: before that is of we will tell you what drove the market with the data download. stocks extending yesterday's gains finishing a volatile session higher with the dow, s&p and nasdaq trading above the 200 day moving average for the first time in three weeks. telecom and health care were the top performing sectors. fewer americans filing first-time applications for unemployment benefits as hurricane sandy had the labor market and continues to subside a bit. weekly jobless claims fell by 20,000, seasonally adjusted 393,000. prior week's total was
CNBC
Dec 5, 2012 3:00pm EST
for these massive spending cuts that would come at the end of the year if we go over the fiscal cliff. the white house saying they don't expect we will. they still hope it can be prevented, but they have to start planning. also, speaker of the house john boehner meeting with small business leaders on capitol hill where he reiterated some of his key points. again, just within the past hour. take a listen. >> business owners with us today are here to highlight president obama's demand to raise tax rates instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer to extend the bush tax cuts for everybody under $250,000 and at least take that uncertainty off the table and then continue to negotiate the rest to have later. some of the republicans are now coalessing around that vi
CNBC
Dec 6, 2012 4:00pm EST
observation on the ongoing talks in washington over the fiscal cliff. reporting in the last half an hour that speaker boehner and the white house are finally resuming negotiations. albeit at staff levels, but it's a start. and i have a suspicion we might see more progress soon. you see, finally lawmakers are motivated. unfortunately, i don't think the motivation is to put america on a sustainable fiscal path. i think what's driving them is their scheduled vacations. yes. i really do. now, i know they'd never admit it, but look at the facts. everybody is planning to get out of d.c. for good two weeks from tomorrow, december 21st. including the president who already has an extended hawaii trip planned beginning december 17th. you'd think the fact that every working american's taxes will go up on january 1 without a deal would get them talking or that defense analysts telling us over and over if we go over the cliff, 40,000 jobs will be cut immediately in that sector and that's just lighting the fire for other cuts or widespread beliefs that we will have a serious market selloff and another
FOX Business
Dec 5, 2012 7:00pm EST
, and ten year treasury down to 1.59%. no progress in resolving the fiscal cliff today. i know, you're not surprised by that, but we can report there were, well, some contact between the two principle players in the negotiations if there were negotiations. president obama and speaker john boehner actually talked to one another. it was on the telephone. it was not the face-to-face meeting the speaker says is necessary, but it was the first time that the two men have spoken in a week. for the latest on these stalled negotiations, we turn to fox news chief white house correspondent ed henry for the report. >> trying to lay blame for stalled budget talks on republicans, president obama today wratcheted up pressure on boehner. >> nobody wants this done more than me. >> for the first time, plan for massive spending cuts from going over the fiscal cliff warning business executives, the economy could take another hit if republicans decide to extend just to middle class tax cuts to avoid the cliff for now and come back next year with more leverage to tie spending cuts and medicare reform to
CNBC
Nov 29, 2012 9:00am EST
they will break with protocol. with grover norquist and his tax pledge to reach the deal on the fiscal cliff is sticking in solidarity with it. we're asking what he would be willing to compromise on. >> as we mentioned, house speaker boehner and other leadership meeting with treasury secretary geithner. boehner is expected to hold a press conference afterwards at 11:30 a.m. and we will bring it to you live. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. so i never missed a beat. that's health in numbers. unitedhealthcare. ♪ [ male announcer ] 'tis the season to discover the kid in all of us. enjoy free shipping and great values on your holiday shopping from l.l. bean. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. you can st
FOX Business
Nov 30, 2012 4:00pm EST
to make their cases in the battle over the fiscal cliff. the speaker said he is willing to move forward with negotiations in good faith after republicans rejected the president's first formal offer yesterday as being short on spending cuts, but it doesn't sound like anyone has put the brakes on the road to the coin. >> let's not kid ourselves. i am not trying to make this more difficult. i have been very guarded. i don't want to make it harder for me or the president or members of both parties to find common ground. >> this is not some run-of-the-mill debate, not about which political party can come out on top in negotiations and all of us get out of our comfort zones to make that happen. i am willing to do at and i am hopeful enough members of congress in both parties are willing to do that as well. >> the president's plan repeat his demand for $1.6 trillion over ten years on families making $250,000 a year and includes $400 billion in cuts, savings in medicare and medicaid and other entitlements over the same period. the president wants to extend the current payroll tax cut for the ye
NBC
Dec 6, 2012 6:00am EST
for troops and their families. >>> this morning, signs that there may actually be movement on the fiscal cliff talks. kayla is live with that. >> reporter: a little bit of movement potentially. president obama and house speaker john boehner spoke by phone yesterday as democrats and republicans continue to dig their heels in over this budget standoff. there's been no announcement of any new face the face talks as lawmakers try to reach a deal to avoid the so called fiscal cliff in january. treasury secretary tim geithner tells cnbc republicans have made a little progress, but the obama administration is "absolutely ready to go over the cliff if the gop doesn't agree to raise tax rates on wealthy americans." apple has lost a bit of its shine. the tech giant stock suffering its worst day in four years on thursday. several factors may have been at play. investors worried apple may be giving up ground in the tablet market to rivals, while nokia beat the company to the punch. there are also unconfirmed reports a stock clearinghouse firm is reducing the margin requirements on apple stock. apple
CNBC
Dec 3, 2012 3:00pm EST
on the fiscal cliff is just being released. let's go to e-mailen j amon jav >> they say boehner is offering multi-step solution here, including what he's after is $800 billion in revenue through tax reform. that's obviously significantly less than the $1.6 trillion the president asked for his-n his initial offer last week. other details in this offer being reported by nbc. health savings of $600 billion. other mandatory savings of $300 billion. a revision to cpi of $200 billion. and further discretionary savings of $300 billion. guys, it looks like the horse trading is alive and well here in washington. now this offer being extended from the republicans. you can assume that the white house will not think this is enough tax revenue to go forward, but, of course, offers are being exchanged here so that's a sign negotiations are under way, guys. >> let's get into the details here. $600 billion in health savings. what does that mean for medicare? break it down in terms of where these savings come from. >> i wish i could. what we don't have here is a lot of detail hanging off this christmas tree
CNBC
Dec 6, 2012 3:00pm EST
. always good to be here. >> good to see you again. let's start with the fiscal cliff issue. when it comes to higher taxes, you seem to disagree with house speaker boehner when he says raising taxes on the highest earners will hurt jobs. can you elaborate on that? >> i think what the speaker is saying quite correctly is you don't want to increase taxes on the job creators. the problem here is the 1986 act that equalized corporate and personal rates. so the most important thing is to have an internationally competitive corporate rate of 25% and a territorial tax system and then individuals who have been filing their businesses as s-corporations or pass-through corporations can incorporate and get that lower rate. they can negotiate on the individual rates. >> so you don't think the ordinary income, then, the 39.6% that we're talking about, in that case, would apply to small business. they would fall under the corporate tax rate. >> yes, exactly. people forget that until 1986, corporate and individual rates were separate. a big part of the '86 act was to equalize them. there's a big differen
FOX
Dec 6, 2012 7:00am PST
their own people. >>> president obama and john boehner will talking on the phone about the fiscal cliff. still, there's no real progress. this all comes as another republican says he's willing to break ranks regarding this. tom coburn said that he -- some are looking for a way to save grace as they move in. >>> allison turns reports, hundreds of thousands of california jobs could be lost. alison? >> reporter: and dave, the defense industry projects about 135,000 jobs would be lost in california over the next few years if those tax increases and massive spending cuts kick in at the end of this month. if there's no deal on those, the pentagon was initially told not to plan for the cuts. that's all changed. in the last 24 hours, the pentagon leaders say they are preparing to slice about 10% of the budget. if we go over the fiscal cliff experts predict one in five defense contracts in california could be -- would be lost. both parties say there's still time to reach a deal and avoid those major losses. >> nobody wants to get this done more than me. >> our goal is to make sure this gets reso
PBS
Dec 3, 2012 4:30pm PST
accusations over the lack of progress on avoiding the fiscal cliff, both sides now have put their opening offers on the table. last week, it was treasury secretary timothy geithner meeting with top republicans. this afternoon, house speaker john boehner sketched out the g.o.p. proposal in a letter to the white house, and the proposal borrows suggestions from the president's own debt reduction commission, whose plan was ignored last year. the republican letter offered $900 billion in spending cuts from program reforms to medicare and social security. the g.o.p. plan would raise $800 billion in revenues by closing loop-holes and reforming the tax code, but stops short of specifics. noticeably missing: the higher taxes on high-wage earners which president obama has insisted on. the white house responded, saying "the g.o.p. proposal does not meet the test of balance. in fact, it actually promises to lower rates for the wealthy and sticks the middle class with the bill." it's not just the federal government under pressure. credit ratings agency fitch calls the fiscal cliff the biggest concern
FOX Business
Nov 30, 2012 11:00am EST
a slow-growth economy. cheryl: using markets have already priced in the fiscal cliff arguments but why do we see markets get so volatile when john boehner comes out, are almost afraid to see him talk again today because senator reid comes out and down and up. so much reaction. >> you can't rule out the risk that nothing is done and they don't reach an agreement and if taxes go up and spending is cut we will be in a recession next year. and employment 9%, we can't rule that out but it doesn't make sense to let that happen for the administration, the principal of punishing the wealthy is enough to allow the rest of the country to go into a funk doesn't make sense. cheryl: we see numbers and taxing the top 2% do nothing to deal with the overall deficit problem but you also think at the end of the day doesn't matter about the deficit. we are focused on the wrong issue and you are telling long-term investors stay in, don't tinker. >> stay the course. stocks are still cheap, very dumb policy makers at the end of the day. this is not sandy number 2. we can fix it. the stock market is not just th
CNBC
Nov 29, 2012 4:00am EST
, the fiscal cliff. geithner's president lead negotiator in the budget talks. he'll meet first with harry reid at 10:00 a.m. and then with house republicans including speaker john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then house minority leader nancy pelosi. president obama is signaling he's flexible on on where tax rates should go for the wealthiest americans. a return to the clinton era tax rates would have households pay between 36% to 39%. the president met with a group of 14 ceos wednesday afternoon. they offered support for resolving the if i can crisis with a proposal for higher taxes for those who make more than a quarter million dollars a year. sdl bo >> both sides have acknowledged that there will be revenue concessions and sbilgtment cent concessio concessions. i'm not a master of the political art here, but i would say if you have these point of views in a business context as close as they are, i would say a deal would be in reach. >> ford chairman bill ford junior agrees with blankfein saying he's confident the obama administration can re
CNBC
Dec 3, 2012 5:00pm EST
for dividends. cliffed ends. >> i like that. >> a copy right. >>> speaking of the fiscal cliff we have breaking news in d.c. >> show a little leg, baby. >> i am not going to use expressions. we have a response. when speaker john boehner put out his counteroffer and said he was -- here is bowles saying he doesn't want his name on john boehner's proposal. the approach does not represent the simpson-bowles plan. i took the mid point of the public offers to demonstrate where i thought a deal could be reached at that time and says times have changed since then and it is up to negotiators to find out where the mid point is today. it is no longer operative apparently. >>> getting back to potential cliffedend. you saw a big bet on microsoft today. >> great news for dell and should be good news for microsoft. we saw somebody buy 3,000 of the jan 28 calls. means the break even is about 28.31. they think the stock will get back to the 29 to 33 range where it has been. >> it is time to visit jane for the look of what is up next. >> guys, they estimate $1 billion worth of goods move through every day but ri
CNBC
Dec 6, 2012 9:00am EST
and president obama speaking on the phone last night about the fiscal cliff. there still seems to be a freeze in the negotiation. >> there's nothing going on privately that's not going on the publicly. >> they've got to come with some specific revenue. they have refused to do that. >> we need that consensual break through. >> although the president seems obsessed on raising taxes for you. >> that is a bad strategy for america, it's a bad strategy for your businesses and it is not a game that i will play. >> is the administration prepared too go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the wealthiest 2%. remember it's only 2%. >> with just 25 days to go, the political satandoff could cost the u.s. millions of jobs. professor, good to have you back, good morning. >> good to be here, thanks. >> good read in the journal yesterday from you and if anybody needed to worry about this more, you invoke carter, you're talking about 1980. kind of scenarios if in fact we go over the cliff? >> yes, i can't stop thinking about
CNBC
Nov 30, 2012 9:00am EST
under control in a way that is fair and balanced. >> stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in talks between the white house and the house over the last two weeks. the white house has to get serious. >> republicans know where we stand. we have said it. we've said it. we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmastime. >> according to a congressional republican aides who have talked to "the wall street journal," they obtained a copy of the white house prover here in the negotiations. >> do you have faith in any of them to rise above? >> would it be okay to go over? >> we will rise above. >> eamon javers joins us live from washington. they seem farther apart than ever before. the dow is above 13,000 for the first time in several weeks. do you think the markets are reading comments correctly? >> i do think markets have gotten it wrong a lot this week. they have been reacting strongly to things that are boilerplate information and bas
CNBC
Nov 29, 2012 3:00pm EST
picture on all of this. they're not going anywhere fast. fiscal cliff is important, but there's a lot of issues for the next several years that are going to be important to the treasury market. once his comments were made, equities got a little volatile. you can see that was it. the treasury traders pretty much stopped trading, and it's been light volume ever since. >> but one issue, i guess, isn't there so much room to disappoint this market? given the fact the it is moving so much on any commentary out of washington, if we go over the fiscal cliff by december 31, is there a big opportunity for this market to sell off? it doesn't seem like it's priced in that we go over. >> maria, if we go over the cliff, sure, we're going to have a reactionary selloff. when you look at the fed now talking about qe-4, economic statistics are getting better, not worse. europe is slow e lily resolving issues. >> that reverses in the first quarter if we go over the cliff. >> it depends how we go over. if we go over for a couple days and they get a deal, it's fine. if this thing really breaks down, sure,
CNBC
Dec 3, 2012 4:00am EST
29 days to go before the u.s. hits the fiscal cliff. both sides are blaming each other for the standoff unsurprisingly. timothy geithner is pushing the gop to offer specific ideas and predicts they'll eventually yield on raising tax rates on the wealthy, but john boehner is standing firm against those high taxes. >> we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because a small group of governors want to extend tax rates for 2% of americans. no reason why that should happen. >> geithner says republicans will be responsible if no budget deal is reached by the end of the month. boehner says the fight has only begun and he's interested in cutting a deal and not sounding a fiscal alarm. we'll be talking about how the two sides might be able to break the deadlock with a did democratic strategist in the next half hour or so. now, singapore airlines has confirmed it's in talks with
CNBC
Dec 4, 2012 4:00am EST
the fiscal cliff as if we could. in washington, the capitol hill christmas tree will be lit tonight. john boehner will pull the switch in a hospital of holiday inn duesed n induced nonpartisa. >> that's the look ahead today. we've had a few technical problems with getting our licks up to north america which is why we've had a number of guests stacking up, but i'm assured we're working on them. we will talk about the ski season, as well. before that, let's remind you what the headlines are today. fiscal cliff talks set to drag ons as budget proposal by republicans dismissed by the white house. banking union talks taking central stage in brussels. finance ministers trying to find a deal. and australia central bank has cut interest rates to its lowest level since the financial crisis. how? cdw and hp networking implemented a virtual application network that reduces the time to deploy cloud applications from months to minutes. with fewer bottlenecks like this. finally. charles! client golf. aim for the lake. really? can i still ship a gift in time for christmas? yeah, sure you can. great. whe
CNBC
Dec 4, 2012 6:00am EST
would happen if we go over the fiscal cliff. the president is counting on that. >> which republicans? boehner doesn't get -- some of these guys go back to the auto parts shop where they came from before they were a tea party republican, wherever they -- you can't -- it's not a monday know lit. you can't get mad at the house. >> people pointed out some of the republicans were there and congress don't care. >> no, why would they? >> i don't necessarily think president obama cares that much either. his leg legacy is about obamacare, redistribution. and you can't control the economy. you can divide the pie better, but it will have these cycles. bush messed things up. i did the best i could, but he'll redistribute and that will happen, we'll spread the wealth around. and i don't think he cares that much about it. >> you don't think he cares about -- >> his chief of staff during the cry says said you'll be -- this is job one, the crisis. and he go that's not enough. he wants to be transformative. i don't know. we'll see. i asked the first time around why isn't he more concerned with job gr
CNBC
Dec 5, 2012 1:00pm EST
effect. that could be also, by the way, a fiscal cliff effect. zplint vi >> interviewing secretary geithner later today. what's your first question going to be? >> i want to get his response -- we had the president respond to boehner's proposal but i want to get the secretary's response, too, the specific issue of, hey, the republicans looked like they made a step forward, actually got some accolades in some of the press for agreeing to new revenues. where's the administration's response on that side? are they willing to give? i think that's a key question right now in terms of what the news flow is right now but also there's critical questions about the dollars on both sides of the equation, tyler. >> steve leisman, thank you very much. >>> jim iuorio, i want to ask you the same question i just asked steve. if you were talking to secretary geithner at 4:00 p.m. today as steve will be, what would your first question to him be? >> my questions would be about dividends and capital gains as they're market related. with the dividends we've seen a tremendous amount of companies bring th
FOX Business
Dec 4, 2012 11:00am EST
of concerns pertaining to washington and the fiscal cliff. we're watching any headline that comes out of washington because it can be a market moving event like last week when reid and boehner spoke. that jerks the market around one way or another. december is the best on wall street, the best of the 12 for s&p, but now it's lower one-third of 1%. that's the latest. phil, how is the cme? >> tell you what, the oil prices are really unmoved on the story out of egypt. traders watching that very, very carefully, but, today, the markets seem to be done on concerns about the swelling economy and the fiscal cliff, but this comes on a day when oil production in the united states hit another milestone. oil production last month hit the highest level since 1998, another step towards energy independence in the country, and another reason why oil prices are under pressure. the spread between the u.s. and europe, we're making a lot of progress on the oil production front, but across theeboard, we are seeing products really getting hit. oil, a feature today, down over five cents a gallon, and a lot
CNBC
Dec 3, 2012 6:00am EST
] break from the holiday stress. fedex office. >>> negotiating a deal on the fiscal cliff. they say a good compromise leaves everybody unhappy, but can house speaker john boehner rise above the partisan politics and still escape the wrath of his tea party? we'll ask former house majority leader dim armey. >>> and we've seen some major executive shake-up these year. management guru jeffrey seinfeld will join us to grade the hires and fires of 2012. >> the third hour of "squawk box" begins right now. >>> welcome back to "squawk box" here on cnbc first in business worldwide. i'm joe kernen along with becky quick. andrew ross sorkin is off today. our guest host this morning, steve mcmahon, co-founder of purple strategies and david walker, founder and ceo of the comeback america initiative. more from them in just a minute. first, we have some headlines for you this morning. let's begin with the markets and the looming fiscal cliff. the dow finishing november lower. and that is the second consecutive month. the blue championships fell .5% in november. 3% since the start of october. the nasdaq an
CNBC
Dec 6, 2012 4:00am EST
the president told the business round table that a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. and in an interview on cnbc, timothy geithner says the gop is making a little bit of practice, but the white house is absolutely ready to go over the cliff if tax rates on the top 2% don't rise. >> our obligation is first do no harl. we need to lift that threat over the economy. and now as part of that, we'd like to put in place as i said a carefully designed mix of reforms to put our fiscal balance in the path of sustainability. as long as there is recognition by the other side that those rates will go up, we think we can reach an agreement on the set of reforms as i said that will be good for the economy. >> republicans were quick to hit back. orrin hatch called them stunning and irresponsible, but there may be more cracks in the ranks. "washington post" reports some moderate and conservative republicans are calling on boehner to concede on taxes now while he still has leverage to ask for something in return l
CNBC
Dec 6, 2012 6:00am EST
employment data on the way. tomorrow the big jobs report and then there was the issue of the fiscal cliff. 11,000 in citigroup. i wonder if we start seeing things before next year. people are not hiring people. >> and we've talked a lot about this, ceos have already had to make their plans known to their boards. so it's had its impact. >> getner says the obama administration is only too willing to go over the qulif. cliff. do they mean marginal rates, or just rates. >> that's what's going to be worked out, the last minute deal that's where you find wiggle room. >> i guarantee you there's guys in boehner's camp that are ready to go over, too. >> but he's been moving to marginalize those peel. this is his way of taking control of the party. >> the question is why do they care where the money comes from. if you have a revenue target, then fine. but we need $800 million in revenue. john wehner figured it out. and boehner can turn around and say i need $6 trillion in titlement cuts. and they can each take each other's playbook and try and figure out what they would like best to -- figure out the n
CNBC
Nov 29, 2012 6:00am EST
for the dow, s&p more than 7, and as joe mentioned, the fiscal cliff is still the focus. today treasury secretary tim geithner will be meeting with congressional leaders. first harry reid at about 10:00 and then followed by a session with john boehner, eric cantor, paul ryan and chairman of the house's tax writing ways and means committee dave camp. also lunch with republican senate minority leader mitch mcconnell and nancy pelosi. yesterday a number of high profile corporate leaders met with president obama at the white house, including lloyd blankfein. >> both sides have acknowledge there had is revenue concessions and entitlement concessions. in fact if you listen to it, again, i'm not a master of the political art here, but i would say if you have these point of views in a business context, i would say a deal would be in reach. >> among our guests this morning, we have ron johnson. at the white house today, president obama will host mitt romney for a private lunch. it's their first meeting since the election. and this his victory speech, obama promised to engage with romney and cons
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